The Retail Industry Leaders Association (RILA), as part of the U.S. Business Coalition for Trans-Pacific Partnership (TPP), has urged President Obama to continue to seek a 21st Century agreement that can only be achieved with comprehensive coverage and commercially meaningful rules for all goods and services throughout the final TPP agreement. A letter to the president was signed by 41 industry and agriculture groups representing a broad cross-section of the U.S. economy.

The letter makes clear that all TPP countries, including the United States, should be prepared to negotiate in good faith to develop 21st Century rules that expand trade and investment opportunities in all sectors - including politically sensitive ones - to achieve a high-standard TPP agreement that will promote U.S. jobs, innovation and value-addition.

"Adoption of a comprehensive approach is vital to achieve the maximum commercial benefits of the burgeoning Asia-Pacific market. Every country has particular sensitivities that arise. If the United States exempts certain products, services, sub-sectors or sectors, other TPP partner countries will do the same and very likely exclude areas of great commercial interest to the United States. The result would be a least-common-denominator outcome that would thwart the high ambitions and economic potential that all TPP negotiating countries seek," the letter read.

"The United States' aim to achieve a 21st-century agreement can only be realized through the comprehensive coverage and commercially meaningful rules for all goods and services throughout the final TPP agreement, and we look forward to working with you and your negotiators to help achieve that vital result," the letter concluded.

"RILA and our business and agriculture partners support U.S. proposals that maximize benefits for U.S. companies, consumers, and workers. The TPP is a great opportunity to modernize outdated rules to facilitate new trade and investment in every sector, create new market access for U.S. exports, and secure strong intellectual property rights and investor protections in all TPP nations," Lester concluded.

RILA is the trade association of the world's largest retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5tr in annual sales, millions of America jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

Source: RILA